1,983 HDB resale flats sold during May

About 1,983 HDB ( Housing and Development Board) resale flats were sold during May which was up from 1,834 units that exchanged in April, revealed SRX Property. The resale volume for HDB flats also grew by 8.1 per cent in May compared to the last month.

The portal also revealed that resale prices of five-room and HDB executive flats increased by 0.5 per cent and 0.3 per cent respectively. However, prices of four-room flats fell by 0.1 per cent, while those of three-room flats remained unchanged.

Year-on-year, the resale volume increased by 7.5 per cent compared with 1,844 units resold in May last year.

An interesting trend was found that buyers appeared to be prepared to pay a bit more for resale HDB flats in mature estates, with prices in these areas increasing by 0.2 per cent, while those in non-mature estates decreased by 0.4 per cent.

The overall median Transaction Over X-Value (TOX) — a measure of how much a buyer is underpaying or overpaying for a unit — was at negative SGD2,000 during May compared with negative SGD1,000 in April.

For HDB towns having more than 10 resale transactions with TOX last month, Bishan reported the highest median TOX of SGD10,000, followed by SGD3,500 in Jurong East.

This indicates that the majority of buyers in these areas bought their resale flats above the market value.

However, among HDB towns with more than 10 resale transactions with TOX last month, the lowest median TOX was in Toa Payoh at negative SGD16,000, followed by Sembawang at negative SGD10,000, suggesting that the buyers in these estates have purchased units below the market value.

Author

Ashraf Jamal – Senior Writer

Ashraf Jamal brings a rare depth to writing equipped with a degree in journalism, a postgraduate degree in political science, and a degree in law from the Allahabad University. His experience includes editing and publishing the Northern India Patrika and writing for Times of India for almost a decade covering just about any topic under the sun including NRIs and Indian diaspora.

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